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Ord. No. 54/80
Dealers to provide certain
information, etc, to client.
COMMODITIES TRADING (AMENDMENT)
(a) where the transaction was entered into as agent, deliver the contract note to the client not later than 5 days after such date;
(b) where the transaction was entered into as principal,
retain the contract note for himself.
(2) A contract note made out by a dealer under sub- section (1) shall include-
(a) the name of the client under subsection (1)(a) to whom the dealer is required to give the contract note;
(b) the name or style under which the dealer carries on his business as a dealer and the address of the principal place at which he so carries on business; (c) where the dealer is acting as principal, a statement
that he is so acting;
(d) the name of the commodity exchange on which the
contract has been executed;
(e) if the contract has been executed by an agent, the
name of the agent;
(f) the date of execution of the contract and the date
upon which the contract note is made out;
(g) whether the contract is a new contract or a contract
for settlement;
(h) whether the contract is by way of
(i) purchase;
(ii) sale; or
(iii) exchange;
(i) the name of the commodity being bought, sold or
exchanged;
(j) the trading unit of the commodity;
(k) except in the case of a contract by way of exchange,
the price per trading unit;
(1) the number of trading units;
(m) the delivery date of the commodity;
(n) the rate or amount of commission payable in respect
of the contract.
(3) Any dealer who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine of $10,000 and to imprisonment for 6 months.
45B. (1) Subject to subsection (2), every dealer shall, on being requested to do so by a client-
(a) provide the client with a copy of any contract note relating to the dealing, and a copy of the client's account with the dealer; and
(b) if the Commissioner on the application of the client so directs, make available for inspection by the client, at all reasonable times during the dealer's ordinary hours of business, the dealer's copy of the contract note and the client's account with the dealer.
COMMODITIES TRADING (AMENDMENT)
Ord. No. 54/80
A287
(2) Subsection (1) does not require a dealer to-- (a) provide, or keep available for inspection, a copy of any contract note which relates to a dealing transacted more than 2 years before the date of the request; or
(b) provide a copy of, or keep available for inspection, any account which relates to a dealing transacted more than 7 years before the date of the request. (3) Any dealer who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine of $10,000 and to imprisonment for 6 months.".
new section 60A.
4. The principal Ordinance is amended by adding after section 60 Addition of the following-
"Hawking
of futures contracts,
60A. (1) Subject to subsections (2) and (3), a person shall not, whether on his own behalf or otherwise and whether by appointment or otherwise, call from place to place
(a) making or offering to make with any person-
(i) an agreement for or with a view to having that other person purchase or sell a futures con- tract; or
(ii) an agreement the purpose or pretended purpose of which is to secure a profit to that other person from a futures contract; or
(b) inducing or attempting to induce any other person to enter into any agreement referred to in para- graph (a),
whether or not in calling from place to place he does any other act or thing.
(2) Subsection (1) does not apply to
(a) a person in so far as-
(i) he calls at the place of another person who is a banker, solicitor, professional accountant, dealer, commodity trading adviser, dealer's repre- sentative or commodity trading adviser's represen- tative; and
(ii) whether as principal or agent, he makes, or offers to make, with that other person an agree- ment referred to in subsection (1) or induces, or attempts to induce, that other person to enter into such an agreement; or
(b) any other person calling from place to place who belongs to a class of persons prescribed in regula- tions for the purpose of this subsection.
(3) Nothing in this section applies to any futures con- tract exempted by the Commission for the purposes of this section if any conditions subject to which the exemption is granted have been fulfilled.
(4) Any person who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine of $10,000 and to imprisonment for 6 months.
(5) If in any proceedings under subsection (4) for a contravention of this section it is proved that the accused
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